In 2008, Porsche was cruising. The luxury car manufacturer generated $13.5 BN in pre-tax profit, and sold a record 98,652 automobiles — a staggering $136K profit per car sold. Even for a luxury brand, the numbers seemed nearly impossible. Upon closer inspection, $11.5 billion dollars of that profit wasn’t from selling cars — it was from speculating on financial…
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One day in the fall of 1981, eight men in their 70s stepped out of a van in front of a converted monastery in New Hampshire. They shuffled forward, a few of them arthritically stooped, a couple with canes. Then they passed through the door and entered a time warp. Perry Como crooned on a…
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Nothing in life is to be feared, only understood – Marie Curie It is no secret the Marie Curie is one of my intellectual idols – the only person to win two Nobel Prizes in different disciplines. I don’t count the Peace prize won by the likes of Linus Pauling since it is a bullshit popularity…
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Joel was wearing a black T-shirt tucked into black jeans, black Vans, and an Indian Motorcycle ball cap. The back of his head, where hair might be, was freshly shorn, and his features, which in dark or obscure moods can appear mottled and knotted, were at rest, projecting benevolent bemusement. To prepare for the flight,…
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I regularly get emailed things from S&P Dow Jones Indices – most it relates to index structure, performance or changes. Some of it is data for data sakes with no real use, but some bits are interesting from a summary perspective. I have always had mixed views about volatility and have spoken about it a…
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So you want to be a fund manager, sit on a pile of money, move it from here to there and from there to here. Wear a suit everyday to work, a silk tie and maybe have one of those heavy Swiss watches on your wrist. Sounds nice, right? Well I have good news for you.…
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Something different for the day and my favourite web series. Click image for the redirect to the video.
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For those of you who hold BHP, my commiserations.Unfortunately, you have not seen much growth for almost a decade and have been underwater for the bulk of that time. The trajectory of BHP is interesting because it points directly to the fact that we have not had a mining boom – we have had…
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